Celsius files motion to extend the Bar Date Celsius files motion to extend the Bar Date
Celsius has requested an expedited hearing for a motion to extend the deadline for submitting proofs of claim and grant related relief.
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Updated: Jan. 4, 2023 at 8:45 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Celsius filed a motion on Dec. 30, 2022, to extend the Bar Date — the deadline for all customers to file a claim.
The hearing will be held remotely via Zoom for Government on Jan. 10, at 11:00 am ET.
Parties that wish to appear at the hearing must make an electronic appearance through the court’s website by 4:00pm ET on Jan. 9.
Celsius filed the motion under the Chapter 11 bankruptcy case of Celsius Network LLC and its affiliated debtors.
In light of the roughly $53 million spent on ‘administration expenses’ through the bankruptcy case, multiple users expressed concern in the Twitter thread announcement.
User concerns included fear of funds being wasted and “lawyers procrastinating for profit.”
With this extension filed, users can expect to now wait longer before being given the opportunity to recover funds held in Celsius.
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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Celsius Network
Celsius Network is a bankrupt cryptocurrency lending company that was founded in 2017 and headquartered in Hoboken, New Jersey.